“It’s probably been dominated by the large cap of Fisher and Paykel Healthcare after a very strong start earlier in the month. So it’s just given a little bit of that back,” Goodson said.
“It’s just up on buy flows and down on sell flows rather than any fundamental reason.”
Fisher & Paykel Healthcare’s share price fell $1.10 to $36.40 after 263,851 shares traded hands to the value of $9,618,173.79.
Meanwhile, Ryman Healthcare’s share price rallied 3.07% today. The stock closed up 7c at $2.35.
Kiwi Property Group announced ASB Bank has extended its lease for a further nine years at its Wynyard Quarter location in Auckland.
Goodson said it was good news for the group.
“The gradually approaching end of lease was something that was worrying the market because it’s quite a unique building in a location that is not the core CBD. If ASB had left, they could have had significant difficulty re-leasing it.
“To re-sign them for another nine years once the current lease has ended is clearly good news. It will likely lead to an upward valuation in the building.”
Kiwi Property Group’s share price rose 1.65% to 92c, with 2,158,621 shares changing hands to the value of $1,995,571.05.
The other big mover was Infratil, which dropped 1.79% to $10.45, down 19c, with 612,433 shares changing hands to the value of $6,435,694.12.
Goodson said the Australian market was of interest today after sharp positive movements in a number of resource stocks.
Looking to the end of the week, Goodson said investors will be watching how US President Donald Trump’s “Big Beautiful Bill” progresses and whether it passes through the US House.
The S&P 500 and Nasdaq ended at fresh records Wednesday after Trump announced a trade deal with Vietnam, offsetting weak hiring data.
The session began in a dreary fashion after payroll firm ADP said the US private sector lost 33,000 jobs in June, adding to worries before Thursday’s critical government jobs data.
But markets welcomed Trump’s announcement that he reached a deal with Vietnam.
“Little by little, we are coming to agreements,” said Sam Stovall of CFRA Research. This “should be regarded as positive”.
The broad-based S&P rose 0.5% to 6227.42, its third all-time high in the past four sessions.
The tech-rich Nasdaq Composite Index gained 0.9% to 20,393.13, also a record, while the Dow Jones Industrial Average was unchanged at 44,484.42.
– Additional reporting AFP
Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.
